Commerce Exam Past Questions and Answers | JAMB, WAEC and NECO

Commerce is a structured system for exchanging goods between buyers and sellers. It involves studying the processes and activities related to buying and selling goods and services, particularly on a large scale.

• Question 771: Which of the following best describes inputs for any production activity? Options:
  A) Natural resources
  B) Buessiness resources
  C) Human resources
  D) Material resources
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  The correct answer is A .
• Question 772: A specialized institution in Nigeria that deals in capital investments in the form of stocks, share, bond and debentures is the? Options:
  A) Securities and Exchanfge commission
  B) commodity market
  C) Nigerian Stock Exchange
  D) Central Bank of Nigeria
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  The correct answer is A .
• Question 773: Money can be simply be referred to as a Options:
  A) measure of value
  B) standard of value
  C) means of settlement
  D) durable asset for doing business
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  The correct answer is A .
• Question 774: The type of labour that makes use of physical effort in production processes is the Options:
  A) unskilled labour
  B) skilled labour
  C) blue-collar job
  D) white-collar job
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  The correct answer is A .
• Question 775: The process of creating more for a product is called? Options:
  A) advertising
  B) marketing
  C) promotion
  D) consumerism
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  The correct answer is C .
• Question 776:

  The agency in Nigeria which ensures that products conform with government quality specifications is the?

  Options:
  A) standard organisation of Nigeria
  B) Nigeria consumer association
  C) manufacturers association of Nigeria
  D) Nigeria chambers of commerce
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  The correct answer is A .
• Question 777: The practice of assessing employees for payment or advancement according to their observed achievement is called Options:
  A) employee ranking
  B) merit rating
  C) job grading
  D) employee education
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  The correct answer is C .
• Question 778:

  A specially-designed mode of transport for conveying liquid and gas is a

  Options:
  A) coaster
  B) tanker
  C) liner
  D) ferry
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  The correct answer is B .
• Question 779: Kabir receives two quotations. Ade quotes N 100 less 20% trade discount and 20% cash discount while Benson N100 less 30%trade discount and 10% cash discount. If Kabir wants to take advantage and cash discount, then Options:
  A) the material should be supplied by Ade
  B) the material should be supplied by both of them
  C) the material should be supplied by Benson
  D) Benson should be ask to reduce his trade discount
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  The correct answer is A .
• Question 780: The act of a person employing another to enter into a contract on his behalf is known as? Options:
  A) business
  B) sale of goods
  C) bilateral agreement
  D) agency
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  The correct answer is D .